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Money Talks or Partners Walk
Oleh:
McCann, Charles
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Journal of Accountancy vol. 190 no. 4 (2000)
,
page 51-56.
Topik:
MONEY
;
money talks
;
partners walk
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ85.11
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
There are about 50,000 accounting firms in the United States and nearly that many compensation methods. Right now most CPAs are having their best year ever, better even than last year, which was the best year, and so on - back to about 1994, when the current upswing got rolling. This boom is papering over flaws in partner compensation formulas at many firms. Structuring a firm’s compensation formula from a blank page at the beginning is complicated enough, but it is a monumental task to change one that’s been in place for years. Typically, some partners will be on the down side of a change - and those who are will find it painful. The CPA profession is in flux, and firms need talented new partners to replace baby-boomers who will be retiring soon. Firms are having to reconfigure their compensation plans to create incentives for younger partners while buying out retiring partners at fair market value - at a time when the old valuation formulas are changing because consolidators competing for firms have driven up values. The challenge of partnering - whether it’s a partnership, a PC or an LLC - means professionals in client service who consider themselves of equal talent inevitably will have issues to resolve. There are some steps to take to ease conflicts and plan for the financial swings likely to occur over the course of a partnership.
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